OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Requirements of a Bona Fide Thrift or Savings Plan and Requirements of a Bona Fide Profit-Sharing Plan or Trust

ICR 201705-1235-001 · OMB 1235-0013 · Active

Forms and Documents
DocumentTypeStatusAvailability
empsit June 2017.pdf Supplementary Document Uploaded 2017-07-26 Repair queued
60-day FR notice 1235-0013 20170523.pdf Supplementary Document Uploaded 2017-05-25 Available
1235-0013 Supporting Statement 20171129 upl.docx Supporting Statement A Uploaded 2018-06-13 Available
IC Document Collections
IC IDCollectionTypeStatusForm
13789 Requirements of a Bona Fide Thrift or Savings Plan (29 CFR Part 547) and Requirements of a Bona Fide Profit-Sharing Plan or Trust (29 CFR Part 549) Modified
ICR Details
1235-0013 201705-1235-001
Active 201405-1235-003
DOL/WHD
Requirements of a Bona Fide Thrift or Savings Plan and Requirements of a Bona Fide Profit-Sharing Plan or Trust
Extension without change of a currently approved collection   No
Regular
Approved with change 06/19/2018
Retrieve Notice of Action (NOA) 03/01/2018
  Inventory as of this Action Requested Previously Approved
06/30/2021 36 Months From Approved 06/30/2018
985,807 0 523,500
548 0 291
0 0 0
This information collection applies to employers claiming the overtime exemption available under section 7(e)(3)(b) of the Fair Labor Standards Act. Specifically, in calculating an employee's regular rate of pay, an employer need not include contributions made to a bona fide thrift or savings plan or a bona fide profit-sharing plan or trust -- as defined in 29 CFR Parts 547 and 549. Employers are required to communicate, or make available to the employees, the terms of the bona fide thrift or savings plan and bona fide profit-sharing plan or trust, and retain certain records.
US Code: 29 USC 211(c) Name of Law: Fair Labor Standards Act
   US Code: 29 USC 207(e)(3)(b) Name of Law: Fair Labor Standards Act
  
None
Not associated with rulemaking
  82 FR 23613 05/23/2017
83 FR 8898 03/01/2018
No
  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 985,807 523,500 0 0 462,307 0
Annual Time Burden (Hours) 548 291 0 0 257 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
There is a change in burden due to the change in BLS data estimates. There is an increase in the overall number of firms due to the improvement of the economy.
$0
No
    No
    No
No
No
No
Uncollected
Robert Waterman 202 693-0805 [email protected]
  No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
03/01/2018